US May CPI Puts Inflation Hawks In Feeding Frenzy – Analysis

The consumer price index (CPI) rose 0.6 percent in May, with the core index (which excludes food and energy) rising at an even more rapid 0.7 percent. This brought the increases in the overall and core index over the last year to 5.0 and 3.8 percent, respectively.

Does this mean the inflation hawks were right? Did Biden’s...